Blackstone Taps Into Mortgage Loans With Bayview Investment

Bayview Asset Management has entered into a definitive agreement to sell a minority interest in the company to Blackstone Capital Partners.

Bayview currently manages a $2 billion fund that focuses on the acquisition of whole mortgage loans and mortgage backed securities. It also operates Bayview Loan Servicing, a mortgage servicer which exclusively services Bayview collateral. The transaction is subject to approval from state mortgage regulatory bodies and involves no debt financing. It is expected to close in the fourth quarter.